March 24, 2016 Market Wrap Up

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The market bounced back from earlier lows to close nearly flat today. Of course, it was done relatively low volume, but still a nice recovery to close out the week.

The VIX traded higher for a good portion of the day, however; as the market rallied, the VIX fizzled, closing the day lower at 14.72.

Crude oil has recently come under pressure after a massive spike in prices over the last month. Prices dropped more than 4% yesterday and were weak to start the US trading session, however; they also bounced back to close nearly flat. With that said, they’re still below $40.

On the options front, we saw large call buying activity in Six Flags (SIX). In addition, we saw heavy put buying in Xilinx (XLNX), which was 4.9 times usual options volume.

Stocks in play included: Pandora (P) +15.6%, Office Depot (ODP) +9.3%, and Portola Pharmaceuticals (PTLA) -29%

The markets will be closed for Good Friday tomorrow.

Key Economic Data:
25 March 2016- GDP 8:30 AM ET

March 22, 2016 Market Wrap Up

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The market was relatively unfazed today, despite seeing the futures trade lower in the pre-market. News came out early in the morning that several people were killed (and many injured) following a terrorist attack in Belgium.

The ability to shrug of any or all bad news has been going on for over a month now. Not only that, but the VIX is sitting comfortably below 14.25.

Crude oil closed lower, however; it traded in a relatively tight trading range. Crude oil is trading above $41 per barrel, near its year-to-date highs.

On the options front, we saw large call buying activity in Arris International (ARRS). In addition, we saw heavy put buying in Myriad Genetics, which was 17.7 times usual options volume.

Stocks in play included: Lumber Liquidators (LL) +15.6%, Community Health Systems (CYH) +6.6%, and Dean Foods Company (DF) -9.7%

We’ve got two more trading days left this week, here’s what’s going on:

Key Economic Data:
23 March 2016- New Home Sales 10:00 AM ET, EIA Petroleum Report 10:30 AM ET
24 March 2016- Durable Goods Orders 8:30 AM ET, Jobless Claims 8:30 AM ET
25 March 2016- GDP 8:30 AM ET

Key Earnings:
23 March 2016- FRAN, GIS, KBH, PVH, RH
24 March 2016- TFM, GME, ACN, FINL, SIG

Key Conferences:
21 March 2016- Howard Weil Energy Conference (runs till 3/23)
22 March 2016- Telsey Advisory Conference (runs till 3/23)

March 20, 2016 The Week Ahead

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The S&P 500 finished the week on it’s year-to-date highs. An impressive +13% run up from the February 11 lows. A pretty fast transition from panic selling to now almost panic buying. With that said, the VIX closed barely above 14, as we head into a shortened week of trading.

The markets will be closed on Friday, giving many reason to believe that we might continue to see this low volume rally continue.

Even more impressive, has been the run up in crude oil prices. It was another strong week of gains as we eclipsed $40 per barrel. We’re also sitting close to the 2016 highs in crude oil.

Another commodity that is near yearly highs is gold, with cash gold closing the week at 1255.04.

The market is anticipating low volatility, but here are some events to look out for:

Key Economic Data:
21 March 2016- Existing Home Sales 10:00 AM ET
23 March 2016- New Home Sales 10:00 AM ET, EIA Petroleum Report 10:30 AM ET
24 March 2016- Durable Goods Orders 8:30 AM ET, Jobless Claims 8:30 AM ET
25 March 2016- GDP 8:30 AM ET

Key Earnings:
21 March 2016- MFRM
22 March 2016- FIVE, NKE, RHT, SCS, XONE
23 March 2016- FRAN, GIS, KBH, PVH, RH
24 March 2016- TFM, GME, ACN, FINL, SIG

Key Conferences:
21 March 2016- Apple Product Event Launch, Howard Weil Energy Conference (runs till 3/23)
22 March 2016- Telsey Advisory Conference (runs till 3/23)

March 17, 2016 Market Wrap Up

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The phenomenal run in the stock market continued again today, as the S&P 500 flirted with going positive on the year. With that said, we’re now more than 12.5% higher than our year-to-date lows. It’s also worth noting that this run up has been done on below average volume.

Not to be overshadowed, crude oil is up more than 10% over the last two trading days. We’re now trading above $40 per barrel. That’s a move of more than 35% higher than our monthly lows.

The VIX closed 14.44, the lowest level we’ve seen in 2016.

On the options front, we saw large call buying activity in Sensata Technologies (ST). In addition, we saw heavy put buying in Nevro Corporation (NVRO), which was 3.2 times usual options volume.

Stocks in play included: Mallinckrodt (MNK) -4%, Valeant Pharmaceuticals (VRX) -11.4%, and FedEX (FDX) +11.8%

There are no major economic announcements or key events tomorrow, outside of some rebalances that will happen at the close.

March 15, 2016 Market Wrap Up

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It was a rather dull day in the equity markets, as traders await the FOMC announcement tomorrow. The S&P 500 is down less than half of a percent over the last two trading days.

The SPDR S&P 500 (SPY) had a low of 201.05, a high of 202.07, closing relatively flat at 199.54.

Oil traded lower, the United States Oil Fund (USO) closed the day at 9.75, down about 1.2%

The VIX closed above 17, down less than half of a percent at 16.84.

On the options front, we saw large call buying activity in Pacific Gas and Electric Company (PCG). In addition, we saw heavy put buying in Navient Corporation (NAVI), which was 16.2 times usual options volume.

Stocks in play included: Mallinckrodt (MNK) -15.5%, Valeant Pharmaceuticals (VRX) -51%, and Mead Johnson Nutrition Company (MJN) +11%

Here’s what’s on tap for tomorrow and the rest of the week.

Key Economic Data:
16 March 2016- CPI 8:30 AM ET, Housing Starts 8:30 AM ET, Industrial Production 9:15 AM ET, EIA Petroleum Status Report 10:30 AM ET, FOMC Meeting Announcement 2:00 PM ET, Fed Chair Press Conference 2:30 PM ET
17 March 2016- Jobless Claims 8:30 AM ET, Philly Fed Survey 8:30 AM ET

Key Earnings:
16 March 2016- CTRP, FDX, GES, JBL
17 March 2016- ADBE, ARO, LE, MIK

Key Conferences:
14 March 2016- Citigroup CEO Conference (runs till 3/16)
15 March 2016- Bank of America Global Industrials and Autos Conference (runs till 3/18), Barclays Global Healthcare Conference (runs till 3/17)

March 13, 2016 The Week Ahead

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The S&P 500 finished the week higher by about 1%. Not only that, but it’s been up 8 out of the last 10 trading days. It is worth noting that it was a relatively slow week in terms of earnings and domestic economic headlines.

We did get some fireworks out of the ECB, as the announced plans of further QE. Thus far, the market has reacted positively towards this news.

Several things are clicking right now. For example, crude oil prices surged another 7% this week, closing in on $40 per barrel and sitting on 3 month highs.

The VIX is near yearly lows, at 16.50 and now lower overall year-to-date.

We’ve got a jam packed schedule, including the FOMC announcement. In addition, earnings out of Federal Express and Oracle to name a few.

Below you’ll find out what else is on tap:

Key Economic Data:
15 March 2016- PPI 8:30 AM ET, Retail Sales 8:30 AM ET
16 March 2016- CPI 8:30 AM ET, Housing Starts 8:30 AM ET, Industrial Production 9:15 AM ET, EIA Petroleum Status Report 10:30 AM ET, FOMC Meeting Announcement 2:00 PM ET, Fed Chair Press Conference 2:30 PM ET
17 March 2016- Jobless Claims 8:30 AM ET, Philly Fed Survey 8:30 AM ET

Key Earnings:
15 March 2016- DDD, DSW, VRX, ORCL, TERP, QIWI
16 March 2016- CTRP, FDX, GES, JBL
17 March 2016- ADBE, ARO, LE, MIK

Key Conferences:
14 March 2016- Citigroup CEO Conference (runs till 3/16)
15 March 2016- Bank of America Global Industrials and Autos Conference (runs till 3/18), Barclays Global Healthcare Conference (runs till 3/17)

March 10, 2016 Market Wrap Up

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We had an extremely volatile day in the markets today. Things really got interesting after the ECB announced that they would be doing more in the form of QE to try to stimulate the economy. With that said, the DAX got hit with a 2.3% drop.

The SPDR S&P 500 (SPY) had a low of 197.38, a high of 201.07, closing relatively flat at 199.54.

Oil was relatively flat. The United States Oil Fund (USO) closed the day at 10.04.

The VIX closed above 18, down 1.58% on the day.

On the options front, we saw large call buying activity in PHH Corporation (PHH). In addition, we saw heavy put buying in Rackspace Hosting (RAX), which was 2.1 times usual options volume.

Stocks in play included: J2 Global (JCOM) -19.5%, Barrett Business Services (BBSI) -35%, and Williams Companies (WMB) -8.3%

There are no key events on the schedule tomorrow.

March 9, 2016 Market Wrap Up

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The equity markets bounced back from yesterday’s sell-off. However, it was a rather uneventful trading day to say the least. The SPDR S&P 500 had less than a point and a half range compared to the 2.6 ATR we’ve recently been used too.

Oil was able to regain all of yesterday’s losses. The United States Oil Fund (USO) closed the day more than 5% higher, at 10.15.

The VIX is hanging out above 18, it closed the day slightly lower at 18.34.

On the options front, we saw large call buying activity in CONN’s Inc. (CONN). In addition, we saw heavy put buying in Cabot Oil and Gas Corp (COG), which was 8.8 times usual options volume.

Stocks in play included: Unisys Corporation (UIS) -27.7%, Air Transport Services (ATSG) +18%, and Peabody (BTU) +28%

Here’s what’s on tap for tomorrow and the rest of the week:

Key Economic Data:
10 March 2016- Jobless Claims 8:30 AM ET

Key Earnings:
10 March 2016- BONT, CSIQ, BOOM, FNSR, PAY, ULTA

Key Conferences:
JPMorgan Aviation, Transportation, & Industrials Conference

March 8, 2016 Market Wrap Up

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The equity markets declined for the first time in six trading days. With that said, we got some volatility back, with the S&P 500 dropping more than 1% and the VIX closing 7% higher at 18.67.

Oil has been on a tear of late, however; we did see some selling pressure today. The United States Oil Fund (USO) closed the day down more than 4%, at $9.64.

On the options front, we saw large call buying activity in Green Plains (GPRE). In addition, we saw heavy put buying in Unum Group (UNM), which was 4.1 times usual options volume.

Stocks in play included: Ep Energy (EPE) -17%, Seadrill (SDRL) -21%, and Urban Outfitters (URBN) +16%

Here’s what’s on tap for tomorrow and the rest of the week:

Key Economic Data:
9 March 2016- EIA Petroleum Status Report 10:30 AM ET
10 March 2016- Jobless Claims 8:30 AM ET

Key Earnings:
9 March 2016- COKE, SQ, VVUS, FRPT, ONCE, VRA
10 March 2016- BONT, CSIQ, BOOM, FNSR, PAY, ULTA

Key Conferences:
Raymond James Institutional Investors Conference (runs till 3/9)
Cowen & Co 36th Annual Healthcare Conference (runs till 3/9)
Deutsche Bank Media, Internet and Telecom Conference (runs till 3/9)
Piper Jaffray Technology, Media & Telecom Conference (runs till 3/9)
RBC Financial Institutions Conference (runs till 3/9)
JPMorgan Aviation, Transportation, & Industrials Conference (runs till 3/10)

March 6, 2016 The Week Ahead

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The S&P 500 finished Friday on a four-day winning streak, as we continue to see a contraction in market volatility. The S&P 500 is up more than 3% in the month of March and the VIX is trading below 17.

With that said, crude oil futures prices are up 20% over the last two weeks. They enjoyed a 5-day winning streak and are trading nearly $36 per barrel.

Domestically, we’ve got very little going on in respect to economic data and earnings. However, there are a decent amount of industry conferences. Those might be worth paying attention to for intraday opportunities given that there isn’t much else scheduled.

Here’s what’s on tap:

Key Economic Data:
9 March 2016- EIA Petroleum Status Report 10:30 AM ET
10 March 2016- Jobless Claims 8:30 AM ET

Key Earnings:
7 March 2016- SHAK, UNFI, URBN
8 March 2016- DKS, VTL, NAV
9 March 2016- COKE, SQ, VVUS, FRPT, ONCE, VRA
10 March 2016- BONT, CSIQ, BOOM, FNSR, PAY, ULTA

Key Conferences:
7 March 2016- Raymond James Institutional Investors Conference (runs till 3/9), Sandler O’Neill West Coast Financial Services Conference (runs till 3/8), Cowen & Co 36th Annual Healthcare Conference (runs till 3/9), Deutsche Bank Media, Internet and Telecom Conference (runs till 3/9)
8 March 2016- Piper Jaffray Technology, Media & Telecom Conference (runs till 3/9)
RBC Financial Institutions Conference (runs till 3/9), JPMorgan Aviation, Transportation, & Industrials Conference (runs till 3/10)